The numerous examples and computational illustrations used to explain the more complex rules concerning the Federal income taxation of individuals makes this text suitable for first course in Federal taxation undergraduate or graduate accounting, business, or law students.

Accompanying CD-ROM contains ... "TurboTax Business Tax Year 2004, v.04.00"--CD-ROM label.

For over 20 years the Pratt & Kulsrud Taxation series has provided educators, students, and professionals alike with an engaging and clear presentation and examples of tax law. The series has consistently held to the principle that the key to learning taxation is an understanding of the underlying purpose for each and every rule. For this reason, the authors and editors have made a concerted effort to provide the background, both a conceptual and historical foundation, which they feel is essential to understanding. This edition continues the tradition of excellence with timely updates reflecting the latest in tax laws, integration of TurboTax®, and rich online resources for instructors. The text emphasizes those areas of taxation generally accepted as essential to the education of those pursuing careers in taxation or tax-related fields. The scope of this text is intentionally broad to accommodate a variety of uses and to provide flexibility for instructors in designing advanced tax courses.

The text emphasizes those areas of taxation generally accepted as essential to the education of those pursuing careers in taxation or tax-related fields and is intended for advanced topics in Federal taxation undergraduate or graduate accounting, business, or law students.

The purpose of the Study Guide is to assist the student in studying and reviewing the text material and provide a means of self-testing. The Study Guide contains chapter reviews, study exercises, true-false and multiple-choice questions.